CRDA launches Charleston Metro’s Foreign Direct Investment Plan

The Charleston metro’s foreign-born population increased 53% between 2005 and 2015?

In the U.S., foreign-owned companies pay an average of $17,000 more than U.S.-based firms?

South Carolina has ranked first in the nation for jobs created by foreign direct investment (FDI) per capita three out of the last four years?

As you can tell, foreign-owned companies are essential to Charleston’s regional prosperity. Alongside our U.S.-based companies, they help drive our economy and invest in our workforce and community.

Attracting and supporting foreign direct investment is a key element in maintaining our region’s competitiveness and sustainability. To ensure the Charleston region is prepared and responsive to our new and existing foreign-owned firms, CRDA in partnership with World Trade Center Charleston developed the Charleston Metro FDI Plan.

The FDI Plan isn’t just about attracting more companies to Charleston. It’s about taking the next step and evolving our community’s economic development strategies. We want to ensure all companies and people have the resources and support they need to make Charleston home.

The FDI Plan focuses on three core objectives:

Deepening and diversifying the region’s portfolio of foreign investment

Integrating new foreign companies and foreign nationals into the Charleston metro, so they become strong, valued members of our community

Continuing to orient our community and economic ecosystem toward positive engagement with international trade and investment

The Plan is a deep-dive effort within the Charleston metro’s One Region Global Competitiveness Strategy, aiming to enhance the region’s economy through advancements in talent, infrastructure, and other assets characteristic of a globally competitive metro.

Leaders from across the region collaborated over the course of eleven months to develop the Metro FDI Plan. This included participation with the Global Cities Initiative, a joint project of the Brookings Institution and JPMorgan Chase, where we learned about research and best practices from similar FDI efforts occurring in communities across the United States. Months of interviews, demographic data analysis, and steering committee meetings resulted in the development of a multifaceted FDI strategy.

We are excited to begin implementation. Click here to learn more about the FDI Plan in Charleston | South Carolina | USA.